The Percentages of Brand

"None of that fluffy stuff has worked, said Mike. "All the Brand stuff on and off-line has not generated one sales lead I can identify for the last year. The Networking and Referral processes are working gangbusters! But I can't see putting a lot more time and money into all that brand stuff." 

It's hard to argue with the numbers.

Do you really have the data?

Years ago I worked with a major technology hardware supplier. We confronted the same problem and over the course of a couple of years developed this model:

The problem is that you have to sink large sums in promotion just to get started. On top of that you have to have access to the compiled research of major trade publications plus the money and time it takes to do follow-up market research.

Consultants don't have the time or money for "fluffy stuff"   

I've been working with consultants and professionals since 1990. Each year I survey them to find out what is really working. What I dig out of those interviews is how they connect with the prospects that actually purchase their services.

What works depends on the age of the business.

You will always need to generate as much awareness as you can using whatever resources you have but the percentages of activities shown here have changed only a few percentage points over the last 15 years.

Start-ups

For your business to succeed you must always connect with:

• People that have problem you can solve

• People that can approve payment for your services

• People that will meet with you

They must have all three of those attributes to be a real prospect. Will you sign them all? No. Can you sign enough to keep the business going? Yes, particularly if you have a Personal Brand in the industry or even just in the company you are departing for this new venture. (the direct sales/distributor approach that is based in your prior experience.)

Do a good job and you get to talk about it.

Relationships with clients, prospects and the market change as your business grows. More and more prospects will come to you through referrals if you have a process in place to make that happen. You or the rainmaker in the firm that got you here will have to continue to engage.

Networking will continue to be a key business development tool. At this point, because of your expertise and acceptance within the field you should consider writing a book (fluffy but it can put butts in seats.) With or without the book you can generate speaking engagements that will allow you to begin relationships that will continue to make the organization grow.

Get an evangelist when you're established.

No, they will not replace the rainmaker that got you here. But often when an outfit gets big enough to have specialists riding herd on accounts roped by the rainmaker you need to generate more referrals and more contacts. An evangelist is really a sales person that believes in what you do and is not afraid to go out and talk to more folks. Often that person can be both a speaker that generates interest in your service and then hands off the contact and a conduit to connections you may not have considered.

That "fluffy stuff" you absolutely, positively got to have.

You can't walk away from all of it. Because of how people search out possible consultants and what you need to have at the ready to convince them you can solve their problem you will need to use as many of these as time and money allow. These, in my view, are the absolute minimum:

• Stated Vision, Mission and Position

• Logotype, business cards and letterhead

• Web site that sells your services.

• Testimonials from satisfied customers (on video if time and budget allows)

• Opinions on industry concerns (In Blogs, articles or whitepapers that may be more effective if they are contrarian)

It ain't easy but you can succeed if you understand the percentages.

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His consulting practice, founded in 1990, is known for Trust-based Brand development, Positioning and business development on and off-line. He is also a sought-after International Speaker.

Consulting: www.JerryFletcher.com
Speaking: www.NetworkingNinja.com